Fiscal Year 2021 Approved Fringe Benefit Rates for Sponsored Projects
April 22, 2020
Drexel University has finalized the negotiations of the fiscal year 2021 fringe benefit rates for sponsored projects with the U.S. Department of Health and Human Services (DHHS). The finalized rates remain the same as the proposed rates. Coeus and Banner have both been updated to reflect the new rates effective July 1, 2020.
For fiscal year 2021, the Academy of Natural Sciences (ANS) will continue to use the non-sponsored fringe benefit rates, which although not final, are anticipated to be the same as the fiscal year 2020 rates. In the meantime, proposal submissions for ANS should continue to utilize the fiscal year 2020 non-sponsored fringe benefit rates.
The fiscal year 2021 approved fringe benefit rates for sponsored research are:
|DUCOM Highly Compensated Faculty
The full-time employee rate captures all full-time, benefit-eligible faculty and professional staff. Post-doctoral students hired as full-time professional staff are also included in the full-time employee rate. This group is considered one rate pool because they are all eligible for the same benefit offerings.
The part-time employee rate includes both part-time benefit eligible and non-benefit eligible employees (e.g. temporary employees, co-ops).
The DUCOM highly compensated faculty rate, previously referred to in our agreement with DHHS as Clinical Faculty Rate, is specific to full-time, benefit- eligible, College of Medicine faculty in the “F5” employee class. College of Medicine faculty are automatically assigned to the highly compensated employee classification on hire or when their base salary reaches the annual threshold.
Please note that students are not subject to FICA tax per IRS regulations and as such, do not warrant a separate fringe rate.
If you have any questions regarding the new rates they can be directed to Michael Lacatena at 215.895.6361 or Gabrielle Berrios at 215.895.1730. Current and prior year rates and rate agreements can be found on the fringe benefit page of the Research Accounting website.